Archives for May 2014

On Thursday`s session the pound unfolded towards the downside as expected, however the pound fell short of the specified target by 9 pips before reversing directions and moving towards the upside.
We are updating the main count according to the latest price action and as always we will wait for the confirmation point to be reached to gain further confidence in the main count.
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The euro had another completely uneventful day. Price is still far away from all of our important points, leaving our current exactly as it was yesterday.
We're updating our count to reflect the most recent price action and to present tighter targets and invalidation points.
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On Wednesday`s session the pound unfolded towards the downside as expected and Cable found a bottom at the middle of the specified target zone.
We are updating the main count according to the latest price action and as always we will wait for the confirmation point to be reached to gain further confidence in the main count.
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Today the euro repeated exactly what it had been doing for the past week. Despite the increasingly improving technical picture, it made another low which exceeded the previous low by about 27 pips.
The added complexity of the developing pattern convinced us that it was time to revisit the bigger picture, which is why we're presenting today's analysis on the 2-hour chart for better clarity. However, our near-term, correctively-bullish expectation is still the same. We simply see it as a matter of "when", not "if."
We're updating our count to reflect the most recent price action and to present tighter targets and invalidation points.
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On Tuesday`s session the pound unfolded towards the downside as expected and the first target was reached and exceeded by 7 pips.
We are updating both counts according to the latest price action and as always we will use each count`s confirmation point to determine the highly probable count.
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It seems that the U.S. dollar didn't want to give up against the euro without a fight, as it went against all the technical indicators and managed to push price just 3 pips below our invalidation point, before rebounding towards the upside.
Almost nothing changed with our current analysis, although we made some small modifications to simplify and better fit the recent price movement.
We're updating our count to reflect the most recent price action and to present tighter targets and invalidation points.
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Last week we expected that a downtrend had begun to unfold, and we also mentioned that it was probably time for a short, counter-trend upwards correction.
During the week, the euro actually made a new low, exceeding the previous one by 33 pips. This, however, doesn't negate our current view, as we already know that a number of Elliott Wave corrective patterns can exceed the end of the previous wave, as we'll explain shortly.
The euro continues losing its ground against the U.S. dollar, and the technical picture is still turning increasingly bearish.
We're updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.
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The euro seems to have started moving towards the upside as expected. So far its movement has been slow and unimpressive, but given that we expect it to be part of a larger correction, this isn't too surprising.
Almost nothing changed with our current analysis, although we made some small modifications to simplify and better fit the recent price movement.
P.S.: This update was scheduled to be published at its regular time (i.e. around the market open time), but unfortunately I got very sick and only managed to function properly a short while ago. Please accept my sincerest apology for this delay. On the plus side, price is still moving within the expectations of our last analysis, we haven't missed much.
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On Monday`s session the pound unfolded in a very tight range leaving both counts valid. At the start of Tuesday`s session Cable started moving towards the upside and either count`s confirmation points are yet to be reached.
We are updating both counts according to the latest price action and as always we will use each count`s confirmation point to determine the highly probable count.
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This week the pound unfolded as expected towards the upside and targets were reached and exceeded by 27 pips.
We are updating the main count according to the latest price action and this week`s main count expects Cable to reverse directions and move towards the downside in an impulsive manner while the alternate count expects the pound to continue moving towards the upside to complete wave (ii) green.
As always we will use each count`s confirmation point to determine the highly probable count.
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